Monday, 29 May 2017

Rurelec . What a disaster ! 20/05/2017

Questions for the Board should include .
How come we spun out a company ( Independent Power ) ,valued at $250 million for a nominal sum ?
What happened to the cash from the Bolivian asset ?
Why are we not selling the Argentina plant .As monies have always been hard to return to the Parent Company ?
Which of the Chile/Peru assets do we still own ?

Current valuation estimate  ;
    Argentina $55 million +
    Chile         $65 million ( partner required)
    Peru           $7 million

With a a current MCAP of £10 million perhaps Mr Morris can be a hero and return a good proportion of equity to Investors , by selling Argentina and concentrating on the more business friendly South American neighbourhoods . Rurelec has been a veritable collage of mistakes and time has come for change . Are the present Board capable ?

For shareholders this company has been a wild ride . It is time their faith was rewarded .

No comments:

Post a Comment